There is an error. It should be:
'I assume the presidency'
In other words, Ford was taking on the role of president.
I actually saw him - I played in our High School band, which was chosen to play for an event he spoke at.
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Hi
To assume the presidency- take over the role of President/ become President.
Under extraordinary circumstances- not under normal circumstances
Never before experienced by Americans- it is the first time American´s experienced these circumstances.
Kind regards
Nicci